An Aging Workforce

Canada's population is aging, mainly due to low fertility rate and increasing life expectancy. In general, aging contributes to slower labour-force growth because participation rates for older age groups in the population are significantly lower than for younger groups. Over the next 10 years, there will be more mature workers leaving the labour force than younger workers available to replace them.MatureWorkers

  • The mining workforce is older than in other industries—according to Statistics Canada, over 40 per cent of the workforce is older than 50 years.
  • Respondents to MiHR's 2010 National Employer Survey indicated that, on average, more than half of their workers are aged 45 or older, with the highest average proportion aged 45 to 54 years.
  • Employers in the mining industry recognize that mature workers play an essential role in transferring knowledge and skills to younger industry workers. Efforts to retain mature workers include: altering pension and retirement benefits to reward extra time on the job; enhancing working conditions; flexible hours and increased vacation allotments; and adding medical and other benefits.

 

 

Retirement

Pending retirements and succession planning are priorities for industry employers.

  • Respondents to MiHR's 2010 National Employer Survey indicated that, on average, over a third of their workforce will be eligible to retire in the next five years, with the largest proportion eligible in three to five years.
  • Retirement rates have a major impact on hiring requirements in the near future. The industry will need to hire over 65,000 workers in the next 10 years to replace retired workers.

Read more the aging workforce in the National Labour Market Report